Missouri Tax Amnesty Program Begins September 1, 2015

The State of Missouri is offering a Tax Amnesty Program from Sept. 1, 2015 to Nov. 30, 2015. The Tax Amnesty Program provides a one-time opportunity to pay back taxes that were due prior to Dec. 31, 2014 without having to pay interest or penalties.

The Tax Amnesty Program is provided for all taxes administered by the Missouri Department of Revenue. This includes state income taxes, franchise taxes, withholding taxes, fiduciary taxes, and sales and use taxes. It is available to any taxpayer (individuals, businesses and fiduciaries).

To be eligible for the Tax Amnesty Program, the taxpayer must:

  1. Apply for the Program (Form 5607);
  2. File a tax return for each taxable period for which amnesty is requested;
  3. Pay the entire balance of tax due by November 30, 2015;
  4. Agree to comply with state tax laws for the next eight years.

The Tax Amnesty Program can be utilized by any taxpayer that has a pending appeal, current installment agreement, offer in compromise, or other form of agreement with the State of Missouri to further reduce the amounts due.

It is not available to any taxpayer who at the time of payment is party to any criminal investigation or to any civil or criminal litigation for nonpayment, delinquency, or fraud. Balances due that consist solely of lien fees and returned check charges are not eligible.

The Missouri Department of Revenue mailed an Amnesty Eligibility Notice beginning the last week of August 2015 to known individuals and businesses that qualified for tax amnesty.

The Tax Amnesty Program was authorized by House Bill 384.

FAQs can be answered by the Missouri Department of Revenue at this link:  http://dor.mo.gov/amnesty.php#Q8

The Tax Amnesty Program offered by the State of Missouri really is a unique opportunity. Those with back tax problems should give the Program serious consideration. One must act quickly because there is only a short 90 day window to participate!

 

Kasperek & Co. Accountants would be happy to help you with the Missouri Tax Amnesty Program. Contact either John Kasperek or other staff members.